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How all sport ltd is required to recognize a capital loss of

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On January 1, 2018, Bonnie purchased 100% of the shares of All Sport Ltd. At the time of purchase, All Sport owned the following:

                                               Cost                     FMV

Widgets                        $120,000             $80,000

Land                             $175,000             $140,000

Building                           $95,000                $68,550

Stocks                          $15,000                  $24,500

Question 1: For its taxation year ended on December 31, 2017, All Sport Ltd. is required to recognize a capital loss of:

a. $35,000

b. $61,450

c. $25,500

d. $75,000

Reference no: EM132612703

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